Green transit is disrupting every industry and thus creating opportunities and risks to companies. The electronics and AV industry is no exception. In the near future digital signage technology is likely to be shaped by a combination of customer demand, laws and regulations, technological innovations, industry standards, and corporate responsibility. All of these are global topics that are very much intertwined with each other.
Several factors drive the future of sustainability in digital signage technology. Here are some of them:
- Customer demand: Companies (eg. advertisers) and the public sector are facing growing demand from regulators, consumers and investors for sustainable products and services. As such, manufacturers of digital signage technology are likely to focus on sustainable solutions to meet the needs of their customers.
- Laws and regulations: Legislators all over the world are working hard to boost topics such as energy efficiency, circular economy, corporate social responsibility and sustainability reporting. For example the European Union and the IFRS are demanding companies to provide comprehensive ESG reporting for investors about the company’s environmental and social impacts. These regulations are likely to drive the adoption of sustainable design and manufacturing methods also in digital signage technology.
- Innovation and Advancements in Technology: Innovations in technology, such as energy-efficient components and solutions, development of the AI, renewable energy sources, and improved recycling techniques are enabling the rise of sustainable innovations for digital signage technology.
- Industry Standards: Environmental certifications and ratings are becoming more and more common in the industry and are affecting the expectations of customers, business partners and other stakeholders. These are for example ISO standard for environmental management (ISO 14001) and certificates from ESG rating houses such as EcoVadis. The future update of EU’s Ecodesign directive and upcoming ISO standard for circular economy are also likely to have a global effect on industry standards of digital signage.
- Corporate Responsibility: Companies increasingly recognise their social and environmental responsibilities and integrate sustainability into their strategies and business practices. This is not just to comply with laws and regulations or to answer customer demand. Corporate responsibility has become an important factor in attracting talent and boosting employee motivation and satisfaction.